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Chile raises share cap in Antofagasta port concession

Bnamericas Published: Tuesday, February 19, 2019
Chile raises share cap in Antofagasta port concession

Chile's competition watchdog (TDLC) modified a rule regarding the concession of the second berthing site of Antofagasta port. The regulator raised the maximum stake allowed for the shareholders of concessionaire Antofagasta Terminal Internacional (ATI) from 40% to 65%.

Raising the limit to 65%, the regulator said, wouldn't give ATI a dominant market position since other port concessionaires in the area don't operate under stake holding restrictions.

"The regulation density weighing on ATI is bigger than on other actors in the relevant market," the tribunal stated.

ATI's current shareholders are SAAM (35%), Grupo de Empresas Navieras (35%) and Inversiones Punta de Rieles (30%). In contrast, Compañía Portuaria Mejillones' main shareholder, Inversiones Puerto Angamos, has a 50% stake, while in the case of Puerto Mejillones, Neltume and Belfi have a 50% stake each.

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